We believe stakeholder engagement is an integral part of our efforts to achieve our mission – to discover, develop and deliver innovative medicines that help patients prevail over serious diseases.
At Bristol-Myers Squibb, stakeholder engagement is an integral part of our efforts to achieve our Mission. We recognize that discovery, development and delivery of innovative medicines to address unmet medical needs are improved by partnership and understanding of stakeholder needs and expectations. Our stakeholders include patients and the broader healthcare community, our employees, business associates, government, non-governmental organizations, investors and communities.
Engagement with our stakeholders provides opportunity for greater understanding of emerging issues, trends and expectations, fosters increased trust and support, and provides synergies. Addressing stakeholder expectations and emerging issues as part of business strategy facilitates the sustainability and success of our company.
The stakeholders with whom we actively engage are identified based on factors such as:
- their ability to help us better define areas of unmet medical need, particularly in our disease areas of focus,
- their relative importance to our business operations,
- the knowledge and insight they can bring to the discussion,
- the benefits of enhanced interaction and
- the opportunity for critical and informed feedback.
We also have systems in place to allow all stakeholders to communicate with us regarding specific issues or concerns. For example, we engage with patients and healthcare providers seeking information on our products; we engage with multi-lateral organizations, investors and analysts seeking information about the company’s financial performance, business strategy or governance programs, and we engage with communities furthering collaboration/support.
Engagement with our employees plays an important role in the conduct of our business, and is conducted across numerous venues. Communications from the top down, from the bottom up and across functional areas, are facilitated, including through the following types of initiatives:
- Functional and cross-functional committees,
- State-of-the-business addresses and written communications
- Functional area “Town Hall” meetings including international broadcasts on Bristol-Myers Squibb TV with opportunity for employees to ask questions
- Extensive intranet communications including an employee newsletter with opportunity for employee feedback
- Intranet communication sites and social media
- “Lunch & Learn” events
- Employee surveys
- Supporting employee resource groups
- Maintaining employee health and safety committees
- Communicating business updates, with opportunity to submit questions/comments or contact the Corporate Ombudsman
- Collective bargaining with unionized employees
- Bristol-Myers Squibb helpline
- Annual performance assessments, including the opportunity to secure 360 and multisource feedback
- Array of Employee Reward and Recognition Programs
- Leadership and learning programs, including support of continuing education
Examples of Stakeholder Groups
The table below provides additional examples of stakeholder groups with whom we typically engage in any given year, and the means of engagement.
Patients & Healthcare Providers
BioPharma and broader industry organizations
Examples of Engagement
Engagement on Access
Other Contact Opportunities
Examples of Business Association Memberships
Bristol-Myers Squibb employees around the globe serve in the following:
Biotechnology Industry Organization
Business for Social Responsibility
European Federation of Pharmaceutical Industries and Associations
National Safety Council
Pharmaceutical Research and Manufacturers of America
TransCelerate BioPharma, Inc
Wildlife Habitat Council
World Environment Center
Our Response to Stakeholder Engagement
Feedback from stakeholder engagement conducted by employees across our business operations and functional areas helps to:
- inform and support our business decision-making and strategy
- shape our communications
- assess opportunities to improve our policies and programs
Stakeholder input is used by cross-functional groups, such as our Senior Management Team, Sustainability Council and Environment, Health and Safety Steering Committee, in developing strategy. Results of internal employee surveys are benchmarked with other companies, and feedback is provided to site and functional area management on opportunities for improvement.
Policies and position statements have been developed or strengthened and shared externally as a result of stakeholder input and engagement.
Examples of policies developed and shared include:
Others can be referenced under Key Issues
We also have increased transparency on initiatives related to Access to Medicines. Policies shared on our website include key policies referenced in our Principles of Integrity, Standards of Business Conduct and Ethics.